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Sheffield Corp. was organized on January 1, 2021, with an authorization of 1340000 shares of common stock with a par value of $6 per share.
Sheffield Corp. was organized on January 1, 2021, with an authorization of 1340000 shares of common stock with a par value of $6 per share. During 2021, the corporation had the following capital transactions:
January 5 | issued 670000 shares @ $10 per share |
July 28 | purchased 82000 shares @ $12 per share |
December 31 | sold the 82000 shares held in treasury @ $20 per share |
Sheffield used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2021?
A | $2070000. |
B | $3336000. |
C | $-0-. |
D | $2680000. |
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